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Topic: Chain-Bet.com | On Chain | No KYC | 15x Win | Provably Fair | Since 2016 - page 5. (Read 38506 times)

jr. member
Activity: 115
Merit: 4
Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.
BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

What you did here is highly unethical IMHO. We, the investors, have had many discussion regarding how can we do better. But, that was for the private channel. No point in discussing the same here out in the open.


It is easy to spell ethical lessons, but difficult to deny the reality. Current state of the board even proves my point further...

From Bet ID 4922 to 5009, 50 bets have been placed. Within this range, BTC 0.46027068 has been wagered and BTC 0.6754958 has been won through 8 distinct win. This is more than 146%.
legendary
Activity: 1662
Merit: 1050
Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.
BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

What you did here is highly unethical IMHO. We, the investors, have had many discussion regarding how can we do better. But, that was for the private channel. No point in discussing the same here out in the open.
legendary
Activity: 1834
Merit: 1008
Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.
BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

I do not understand why you should pull out your investment there? In a long term most of the investors will get their ROi back but when you decrease it then it will take longer time just to get your ROI back. In the mean time, I do not think that they want to do that as well because the bankroll will sure be decreased and it will affect the players as well. It is really high risk to do that in the middle of the game
legendary
Activity: 2772
Merit: 3282
In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...

Hilarious how investors can't handle variance with a 37.5% house edge  Grin
jr. member
Activity: 115
Merit: 4
Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.
BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.

I am sorry, you seem to have misunderstood my point. I am not a gambler, but an investor. Hence, I am looking at it from an investor's perspective.

In the last 3 post in this thread, I am trying to point out the same thing I said in the investor's private channel. That is, this game is becoming loss making for investors. Me with few other requested multiple times to the operator to decrease the payout from 10x to 8x. But, operator is not agreeing to the idea. Hence, many of us pulled out our investment from the bankroll.

I hope, operator revisit the current bet data and re-consider our request...
member
Activity: 103
Merit: 11
Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.
BTC is BTC. XMR or ZEC will never get its place.

If there is so much to win, why are you not playing this game? In the last two weeks there were only three bets and all of them are lost.
jr. member
Activity: 115
Merit: 4
Right now, the stat on dashboard is even more impressive for gamblers. From Bet ID 4910 to 4983, 50 bets have been placed. Within this range, BTC 0.40999977 has been wagered and BTC 0.5154958 has been won through 6 distinct win. This is more than 125%.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.
BTC is BTC. XMR or ZEC will never get its place.
legendary
Activity: 3808
Merit: 1723
I think these onchain Bitcoin betting sites used to be pretty big back in the day before casinos started accepting XMR.

Now that many casinos accept altcoins like XMR or ZEC there is less demand for anonymous onchain betting websites such as this.

So they got away a few years back with the higher house edge, people were willing to pay extra just for privacy but these days it makes no sense.

That and after the huge 500 sat/byte fees for BTC transactions in the beginning of 2017. Many of the other onchain betting sites like secondstrade all shut down.
legendary
Activity: 2772
Merit: 3282
It all comes out in the wash.

Let's say you have bet sizes of $1 to account for a large degree of variance:

With this game, you are expected to lose $375,000 for every $1,000,000 you bet.
With a 1% dice game, you are expected to lose $10,000 for every $1,000,000 you bet.

I am honestly surprised to see this topic bumped to the front page, after the math has been made explicit many times over.

It's always bumped because at least one of their investors has multiple shill accounts they use to promote the site.
member
Activity: 89
Merit: 22
It all comes out in the wash.

Let's say you have bet sizes of $1 to account for a large degree of variance:

With this game, you are expected to lose $375,000 for every $1,000,000 you bet.
With a 1% dice game, you are expected to lose $10,000 for every $1,000,000 you bet.

I am honestly surprised to see this topic bumped to the front page, after the math has been made explicit many times over.
jr. member
Activity: 115
Merit: 4
Right now, the stat on dashboard is more impressive for gamblers. From Bet ID 4886 to 4959, 50 bets have been placed. Within this range, BTC 0.35156819 has been wagered and BTC 0.3948476 has been won through 7 distinct win. This is more than 112%.

Right now, there is an interesting stat on dashboard. From Bet ID 4846 to 4949, 50 bets have been placed. Within this range, BTC 0.26076945 has been wagered and BTC 0.2511744 has been won through 6 distinct win. This is more than 96%.

What's so interesting about players loosing only 4% in a game with a house edge of 12.5%? That they would have beat variance and made a profit if they didn't play at such a stupid high house edge?

I don't know how you have calculated the house edge to be 12.5%. The way I have learnt to calculate the house edge, it is 37.5%.

But, I always felt, this house edge does NOT represent the chance of win equally for every game. It varies from game to game relying on the how the random number is calculated. Given the same house edge, for some reason, gamblers do lose more on games that calculates random number internally, than games that takes it from independent third party, such as blockchain.

This is just an observation and I can't back it up with mathematics or logic as of now. But, as you know, probability is NOT an exact science and it is more of a precision which varies on various factors.
legendary
Activity: 2772
Merit: 3282
Right now, there is an interesting stat on dashboard. From Bet ID 4846 to 4949, 50 bets have been placed. Within this range, BTC 0.26076945 has been wagered and BTC 0.2511744 has been won through 6 distinct win. This is more than 96%.

What's so interesting about players loosing only 4% in a game with a house edge of 12.5% 37.5%? That they would have beat variance and made a profit if they didn't play at such a stupid high house edge?
jr. member
Activity: 115
Merit: 4
Right now, there is an interesting stat on dashboard. From Bet ID 4846 to 4949, 50 bets have been placed. Within this range, BTC 0.26076945 has been wagered and BTC 0.2511744 has been won through 6 distinct win. This is more than 96%.
member
Activity: 103
Merit: 11
Winning rate 10/16 but payout x10  Grin

The winning rate is 1/16 and the payout is x10 Cheesy like i said, scam by design

@MarbleBoss aka chain-bet: please don't start another discussion. Your game is scammy crap!

Have u been to any casino at Vegas or Macau? There are many tables where the winning rate is 1/10 and the payout is x2. They're licensed and get audited as well. No one dare to call them scam.

The reason I mention this is because there is nothing scammy in running a game with low winning rate. Gamblers do not gamble only because of the winning rate. There are many other factors that makes them decide where will they throw their money at.

That is true, but I assume most people here primarily gamble at online Bitcoin casinos where winrates and odds are better than what's offered in real-life casinos and even here. Not exactly an apples-to-apples comparison here.

Low win rates absolutely do affect where people gamble, however. I would gladly spend money on a game that is enjoyable but has low win rates, but in this case this game is nothing special and offers no new features I'd be willing to pay for at the cost of a lower chance of winning compared to another blockchain-based game.

Is there really any other proper blockchain based game? If yes, what are those?

No! This is the only one and you should spend all your money in it! If you want to get rich.. this is the way to go!
newbie
Activity: 44
Merit: 0
Winning rate 10/16 but payout x10  Grin

The winning rate is 1/16 and the payout is x10 Cheesy like i said, scam by design

@MarbleBoss aka chain-bet: please don't start another discussion. Your game is scammy crap!

Have u been to any casino at Vegas or Macau? There are many tables where the winning rate is 1/10 and the payout is x2. They're licensed and get audited as well. No one dare to call them scam.

The reason I mention this is because there is nothing scammy in running a game with low winning rate. Gamblers do not gamble only because of the winning rate. There are many other factors that makes them decide where will they throw their money at.

That is true, but I assume most people here primarily gamble at online Bitcoin casinos where winrates and odds are better than what's offered in real-life casinos and even here. Not exactly an apples-to-apples comparison here.

Low win rates absolutely do affect where people gamble, however. I would gladly spend money on a game that is enjoyable but has low win rates, but in this case this game is nothing special and offers no new features I'd be willing to pay for at the cost of a lower chance of winning compared to another blockchain-based game.

Is there really any other proper blockchain based game? If yes, what are those?
member
Activity: 206
Merit: 10
How can I contact to admin about the ads on the website? Grin
What do you mean? We do not have any ad on our website!
newbie
Activity: 6
Merit: 0
How can I contact to admin about the ads on the website? Grin
full member
Activity: 169
Merit: 110
Is this project still paying?, I haven't been able to read a current reference

Just looking at the current status of the board @ Chain-Bet.com, it is evident that the date of last winning is on September 16, 2018.

Here is the bet details...

Bet ID: 4835
Choice: 4
Bet Amount: BTC 0.001
Tx Hash: 88154e000c0fa9e1568a78abc71a4637be188b0a618f2170ae5f42c58b172c3f
Status: won
Confirmation Block Height: 541642
Confirmation Block Hash: 000000000000000000163f2ce57cad9b7398283a90af34ae35c5a1cda30a78a4
Return Amount: BTC 0.01
Return Address: 14BkBfziGCP1nKAaAuz2rQQPZDaxDEvsUd
Return Tx: 4bb14f60b4e0342da5022df7b077c86939be4166c4bcf49d9740058f2e91edac

newbie
Activity: 34
Merit: 0
Is this project still paying?, I haven't been able to read a current reference
jr. member
Activity: 115
Merit: 4
Back to BitcoinTalk after a long time. Nice to see that this project is still rolling...
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